Could Will Smith lose his Oscar for slapping Chris Rock during the Academy Awards? Here's what we know.

• Will Smith hit Chris Rock during the Oscars for making a joke about his wife Jada Pinkett Smith.
• After the incident, he won an Academy Award for his leading role in "King Richard."

Will Smith hit comedian Chris Rock while Rock was on stage presenting the award for best documentary feature during the Oscars broadcast on Sunday night. The reaction came after Rock made a joke referencing Smith's wife Jada Pinkett Smith's baldness. Jada has openly shared in the past that she has alopecia, a medical condition that causes hair loss.

"Can't wait for 'G.I. Jane 2,'" Rock joked. In reaction, Smith left his seat, went on stage, and hit Rock across the face. Upon returning to his seat, he said, "Keep my wife's name out your fucking mouth," which was muted in the US telecast.

Rock's immediate reaction to the slap was, "Oh, wow ... Will Smith just smacked the shit out of me."

Smith later won the best actor award for his role as Venus and Serena Williams' father Richard Williams in "King Richard." But his actions have many wondering if he'll be able to keep the award or if it will be revoked.

The Academy of Motion Pictures Arts and Sciences did not immediately respond to Insider's request for comment on the status of Smith's honor or whether an investigation into Smith's behavior is occurring.

An official tweet from The Academy's account, posted in the early morning hours of March 28, read, "The Academy does not condone violence of any form. Tonight we are delighted to celebrate our 94th Academy Awards winners, who deserve this moment of recognition from their peers and movie lovers around the world."

The Academy does have "Standards of Conduct", reported by Variety, which were created in 2017 after the #MeToo Movement brought the abusive behavior of many big names in the entertainment industry to light. The section reads, in part:

"In addition to achieving excellence in the field of motion picture arts and sciences, members must also behave ethically by upholding the Academy's values of respect for human dignity, inclusion, and a supportive environment that fosters creativity. The Academy asks that members embrace their responsibility to affirm these principles and act when these principles are violated. There is no place in the Academy for people who abuse their status, power or influence in a manner that violates recognized standards of decency. The Academy is categorically opposed to any form of abuse, harassment or discrimination on the basis of gender, sexual orientation, race, ethnicity, disability, age, religion, or nationality."

It's unclear as of now whether Smith's actions qualify as a violation of these rules by the Academy. But the standards also state that "the Academy will not itself initiate investigations" unless prompted by a member or members.

On Monday, The Academy released a statement per the Associated Press saying it will "explore further action and consequences in accordance with our Bylaws, Standards of Conduct and California law."

Actor and host Whoopi Goldberg, who serves as a member of the Academy's board of governors, said on "The View," per the AP, "We're not going to take that Oscar from him. There will be consequences, I'm sure."

Rock has so far declined to press charges against Smith for his actions, per a statement released by the Los Angeles Police Department:

"LAPD investigative entities are aware of an incident between two individuals during the Academy Awards program. The incident involved one individual slapping another," the statement read. "The individual involved has declined to file a police report. If the involved party desires a police report at a later date, LAPD will be available to complete an investigative report."

Smith has already publicly addressed his behavior

Smith directly addressed his behavior soon after the incident occurred when he returned to the stage to receive his best actor award.

"I know to do what we do you gotta be able to take abuse. You gotta be able to have people talk crazy about you. In this business, you gotta be able to have people disrespecting you," he said in his acceptance speech. "And you gotta smile and you gotta pretend like that's okay."

"I want to apologize to the Academy. I want to apologize to all my fellow nominees," he continued.

Toward the end of his remarks, Smith said, "love will make you do crazy things."

He didn't mention Rock directly in his speech, but ended by saying, "I hope the Academy invites me back."

Per Mental Floss, eight Oscars nominations have been rescinded throughout history. Only one award has ever been revoked. In 1968, "Young Americans" won the best documentary film award. The honor was later revoked when it was discovered that it had played in a theater in October 1967 and was therefore ineligible for the award. The title was given to the first runner-up, "Journey Into Self."

People reported an industry source saying that "having Will removed was definitely discussed seriously" from the ceremony itself, though it was not carried out.

Smith was absent from the traditional photo-op that usually features winners from the four main acting categories.